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* It has utility, meaning it solves a real problem. Cryptos should be disruptive, it’s one of my favorite attributes of this space. Look for a cryptocurrency that was created to solve a real problem that actually exists. Make sure they aren’t making up a problem in order to justify the existence of their coin. I’ve seen plenty of presentations where the representative seems very passionate about the project and it’s potential and yet when asked the simple question of “why do you need your own coin?” They stutter and fail to provide a legit explanation, because quite frankly the real answer is they (most likely) will be holding most of the coins if they are holding an ICO or IEO and they want to make money by convincing you it’s valuable.
* Their Github commits are consistent even if the prices are dropping. (BUIDL)This is a great indication that those who are involved with actually building and developing the network are doing so because they actually believe that what they are building has substance and deserves to be built no matter the season of the market. Avoid fair weather dev teams.
* The team has strived for the most fair distribution of coins- Mineable from the very beginning- best bet at avoiding whales that can pump and dump the coin. Many have been scarred from the pump and dump ICOs of 2017 and rightfully so, I’m also quite partial to networks that have committed to staying asic resistant in an effort to keep the ability to mine the coin as open and available to as many people as possible.
* As decentralized as possible- to be robust against any outside pressures that could cause them to sacrifice/compromise things like user privacy. No limits on validating nodes I know some may favor delegated proof of stake networks like Bitshares, Steem and EOS but that is a bottleneck no matter how you frame it. You should always value very highly open source code and permission less blockchains, if it’s possible for anyone entity to make changes to the network without the consent of other nodes, this is a blaring sign that the blockchain is centralized and should not be considered robust at all.
* This last one has to do with the Lindy effect, (the future life expectancy is proportional to its current age) If it’s survived the test of time and subsequent big bull and bear markets, with a growing network, chances are the tech is strong and it will continue to be successful into the future. Although most people want to get in early (which no one in crypto now should be concerned because judging by the awareness of this crypto space we are still quite the early birds) the fact of the matter is, the newer the coin, the higher the risk of failure.
I will spend some time tonight doing a checklist of these points for my alts. Thanks, Heidi!
Steem has it all you mentioned here. Great vids
So because of all those reasons 🙂
BTC is the best 😉 hodling my bags ?
Regards
Litecoin checks off most. GitHub a concern.
Great video, but I would argue that The Lindy Effect would be overshadowed by those who are constantly "building a better mousetrap".
Somebody needs a hair dryer and a brush and it ain't me 'cause I am bald 🙂
What about ones that got approval through the SEC before a token sale?
I enjoy your videos. Keep up the great work.
Basically she just said load up ravencoin.
Please name the coin that you just described in your 5 points. There is only one that covers all those basis.
Great video by the way !!
What are your thoughts on XRP ?
Cheers Andy
As always great great great information hey I finally have a question for you where can we find out more about coins that can be mined with CPU? Thank you ?
Electroneum – 1. Gig economy for developing countries. 2. Office in kent and still hiring and building economy. 3. Coins are distributed to those who have the app. Hardly any energy wasted. 4. NGOs (charities) have the nodes distributes between them. 5. Around since 2017
<3
Woah….. good hair day
Great video! My hero… nice
.2 BUIDL?
Basically BITCOIN is the only useful blockchain
Syscoin will save ETH 🙂
Digibyte, link, xvg, okcash
Someone who is trustworthy really needs to do a comprehensive list on your five points using a scoring system that should tell us how they all fare.
All great points!! Try holding them up against The Blocknet project (BLOCK), pretty good feeling right!? 🙂
Build or buidl ?
Nice job lady.
Sounds like u just described ada after shelley 🙂